USDCAD: DESCENDING TRIANGLE (15 min) !!
UPDATE: Both targets achieved !!
Hello Traders,
Market has just broken below the descending triangle. This type of triangle pattern usually breaks to the downside BUT it is possible for it to break to the upside as well. Therefore targets have been labeled for both long and short opportunity. Stop loss can be placed based on the 15 min structure. Either above the highs or below the low, depending on short or long position. See the chart for more details.
Please feel free to AGREE or DISAGREE with this idea. Hit that thumbs up button (top left corner of this chart) if you like the idea. Good Luck :)
Hello Traders,
Market has just broken below the descending triangle. This type of triangle pattern usually breaks to the downside BUT it is possible for it to break to the upside as well. Therefore targets have been labeled for both long and short opportunity. Stop loss can be placed based on the 15 min structure. Either above the highs or below the low, depending on short or long position. See the chart for more details.
Please feel free to AGREE or DISAGREE with this idea. Hit that thumbs up button (top left corner of this chart) if you like the idea. Good Luck :)